Elon Musk Willing to Invest $15 Billion to Take Over Twitter
Elon Musk is said to be willing to publicly take over Twitter in exchange for a $15 billion investment of his own money.
Elon Musk, the CEO of Tesla and the world’s richest man, proposed to acquire Twitter for $54.20 per share in order to turn it into a free expression platform. He further stated that if the bid is turned down, he may reassess his position as a shareholder.
He had also stated that if his bid was rejected, he would put up a backup plan. He hadn’t spoken anything about his back-up plan. However, his plan B may have been exposed through a few sources.
Elon Musk wants all of Twitter
Musk’s recent offer to buy Twitter was met with skepticism, with insiders claiming Musk was having trouble raising the funds. According to two sources, Elon Musk is willing to spend $10 to $15 billion of his own money to acquire Twitter.
The alleged $15 billion is a significant increase above his current 9.1% ownership in Twitter, which is valued at $3.4 billion. He may also be willing to borrow against his investment to raise further capital, according to sources.
According to the sources, Musk has hired Morgan Stanely to raise $10 billion in a leveraged payout. There have also been suggestions that Elon is in talks with investors about collaborating on a bid for Twitter.
According to reports, Musk is taking an aggressive approach and may launch his tender offer to Twitter in 10 days. Musk’s bid appears to have piqued the curiosity of Tesla and SpaceX investors.
Musk has numerous proposals for Twitter as he believes the social media giant is dying, and he has even suggested that the company abandon its ad-selling economic model. Musk’s time appears to be running out, as he needs to enlist the help of key Twitter stakeholders in order to deliver a tender offer to the company.
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